Common use of Other Termination by the Company Clause in Contracts

Other Termination by the Company. (a) The Company may terminate your employment during the Term of Employment, other than a termination under Sections 5.1, 5.2, or 5.3, at any time upon written notice to you. In the event that your employment is so terminated, in addition to the Termination Entitlement, you will receive (subject to the requirements of Section 5.7), for the duration of the Severance Period (defined in Section 5.4(b) below), bi-weekly payments made in substantially equal installments in accordance with the customary payroll practices of the Company, and subject to payroll deductions and required withholdings, at an annualized rate equal to the sum of your Base Salary and Average Annual Bonus; provided however, that:

Appears in 6 contracts

Samples: Time Inc., Time Inc., Time Inc.

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Other Termination by the Company. (a) The Company may terminate your employment during the Term of Employment, other than a termination under Sections 5.1, 5.2, . or 5.3, at any time upon written notice to you. In the event that your employment is so terminated, in addition to the Termination Entitlement, you will receive (subject to the requirements of Section 5.75.9), for the duration of the Severance Period (defined in Section 5.4(b) below), bi-weekly payments made in substantially equal installments in accordance with the customary payroll practices of the Company, and subject to payroll deductions and required withholdings, at an annualized rate equal to the sum of your then Base Salary and Average Annual Bonus; provided however, that:

Appears in 1 contract

Samples: Time Inc.

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